DALLAS, May 20, 2015 /PRNewswire/ -- Algae International Group, Inc. (OTC: ALGA), today announced a letter of intent (LOI) to acquire a leading nutritional beverage destination company with a ten year operating history. The anticipated acquisition is part of the Company's plan to introduce and rapidly expand a cannabis beverage café franchise.
Algae International Group recently announced a pending corporate name change to North American Cannabis Holdings, Inc. to reflect the Company's shift over the last eighteen months to a concentration on the emerging, legal cannabis market in the United States.
"Cannabis is rich with nutritional and medicinal benefits," said Algae International Group, CEO Steven Rash. "We have been piloting a cannabis infused beverage and our experience has led us to develop a destination beverage strategy where consumers can interface with trained staff to learn about specific benefits and select healthy and refreshing cannabis infused beverages. Our cannabis café will initially include custom blended hemp infused coffee, cold pressed juices and smoothies in addition to carrying raw hemp seeds and other hemp infused foods on shelf space. As state and federal law permits, we will add THC infused beverages and foods"
The founders of the target acquisition come from a collection of nutritional experts, fitness consultants, and other fitness industry professionals that developed a nutritionally superior, sophisticated line of niche beverages. Algae International Group has been working with the target acquisition over the last year to develop the cannabis destination beverage café concept.
About Algae International Group, Inc.
Algae International Group, Inc. (ALGA) (Name Change Pending) through its operating subsidiary American Seed & Oil Company, Inc., has been founded around the core belief that cannabis makes people's lives better. Cannabis can fight disease, improve wellness and do so in an environmentally sustainable manner. American Seed & Oil is dedicated to finding the best possible applications for cannabis to serve consumers. For more information please visit http://www.americanseedandoil.com and look for a new North America Cannabis Holdings, Inc. website coming soon.
Follow the company on Twitter: http://twitter.com/US_HEMP
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
SOURCE Algae International Group, Inc.